So while I am no expert, Yardeni has been making the right calls for a while now. Here is his latest piece which I (novice individual investor) was very impressed with. I have chosen fund discussions but that might not be correct.
http://blog.yardeni.com/2019/01/on-demographic-path-to-human-self.html

"I see these demographic trends as reducing the likelihood of an economic boom, which reduces the likelihood of a bust. The business-cycle expansion should continue, and inflation should remain subdued." There it is, in a nutshell, domestically.

So while I am no expert, Yardeni has been making the right calls for a while now. Here is his latest piece which I (novice individual investor) was very impressed with. I have chosen fund discussions but that might not be correct.
http://blog.yardeni.com/2019/01/on-demographic-path-to-human-self.html

Drilling down into the S&P 500 sectors for recession proof industries (showing little draw down on profit margins during the last two recessions):
- Tobacco (Consumer Staples)
- Household Products (Consumer Staples)
- Healthcare Equipment (Healthcare)
- Pharmaceutical (Healthcare)
- Industrial Gases (Materials)
Surprise (to me):
- The profit margins for the Health Sector as a whole has steadily fallen from 12.5% (in 1995) to 9% (in 2018)
Boring, but steady sectors:
- Healthcare Distribution
- Drug Retail
- Glass & Metal Containers
Also,
Oct 3, 2018 follow up report by Ed Yardeni: Performance 2018 S&P 500 Sectors & Industries
https://yardeni.com/pub/peacockperf.pdf

Ed Yardeni is often highlighted here by MFO posters linked by many here:
https://mutualfundobserver.com/discuss/search?Search=yardeni
This morning I stumbled upon this report titled: Stock Market Briefing: S&P 500 Sectors and Industries Profit Margins dated October 4, 2018.
Profit Margins and the price of the S&P 500 Index seem to be "in the moment" indicators and comparing the two seems to be one data point to follow. Since 2017, the S&P 500 index seems to be out pacing (being priced up) above profit margins which is captured in chart 7 (S&P 500 vs trailing profit margins) in his report:

Report (lots of charts):
yardeni.com/pub/sp500margin.pdf

People doling out advice never have to invest their own money based on that advice. Because they earn their keep because of us. And we have to invest so we can fund them. And they get paid regardless of whether we gain or lose money. And always, ALWAYS it is never their fault, and always ours. If Investor loses money, it is always investors fault.
I've been saying a long time if $USD is going up international/emerging markets suffer. I call it common sense. Of course I will not win any nobel prize because like Ed Yardeni, I don't call it "stay home strategy".
Marketing? Absolutely. In today's times searching twice on Google implies "Re"search.
Now I'll wait for the blog posts to become a book. NOT.

Note the consumer discretionary to staples ratio and the explanatory text. With staples staging a minor upturn the past couple of weeks, I decided to buy a small starter in a staples etf as a possible rebound play.
I'm recalling one MFO poster was buying/adding to staples earlier.
In case anyone's interested, here's Yardeni's sector piece for 2018 to date, published Monday, which has more detail on the staples sector.

Ed Yardeni's stock market forecast is linked below: and, I believe worth the read. He is projecting end of year valuation for the S&P 500 at 3100 and favors the following sectors: financials, technology, consumer discreationary and industrials. In addition, he feels small caps have a ways to run. A readers market survey is found towards the end of the article.
Enjoy the read.
https://www.cnbc.com/2018/06/01/earnings-not-geopolitical-noise-is-important-to-markets-ed-yardeni.html

Unless I'm mistaken, Yardeni has made a lot of money advising people but never made any money for investors. For a while he was also associated and managing fund at White Oak.
I think most people have figured out that "talk" is easy, "walk" isn't. Some who were not "internet" celebrities can still have a career. Wonder what happens to the rest. Jim Jubak anyone?

FYI: Leading Wall Street economist and strategist Ed Yardeni explains why it pays to be optimistic, even in today’s markets.
Regards,
Ted
https://wealthtrack.com/widely-followed-strategist-and-economist-ed-yardeni-shares-his-unconventional-views-on-investing/
Dr. Ed's Blog: (Most of it is free.)
https://www.yardeni.com/

FYI: It has been almost nine years since the last U.S. bear market, as defined by a 20 percent or more decline in the S&P 500 Index. That’s the second-longest stretch without one since 1928, according to Yardeni Research Inc. Only the period from December 1987 to March 2000 was longer.
Regards,
Ted
https://www.bloomberg.com/gadfly/articles/2018-01-25/move-over-groundhog-the-bear-holds-a-lot-of-market-answers

@Ted, Thanks for the article.
Last line from the article say it all:

“CAPE tends to be too pessimistic and PEG may be too optimistic,” Yardeni said by phone. “The truth may lie somewhere in between.”

The last correction (spanning 2015-2016) was 13.3%. Before that were corrections of 12.4% (2014), 19.4% (2011), and 16.0% (2010).
That was using a definition of a 10%+ decline of the S&P 500. If one wants to include "minor" corrections of 5%+, these occurred in 2014 (twice), 2013, 2012 (twice), and 2011.
https://www.yardeni.com/pub/sp500corrbear.pdf
Good luck timing the corrections. Perhaps you meant bear markets (20%+ decline). The last two of those were indeed 57% (2008-2009) and 49% (2000-2002). Then you might have chosen to wait out this whole decade waiting for the next bear market. Making 1% in cash?
Given the near quadrupling of the market since the last bear, you may not come out ahead even if the market crashes 50% next year.
On that possibility, see Grantham's expectations: https://www.mutualfundobserver.com/discuss/discussion/36466/jeremy-grantham-predicted-two-previous-bubbles-and-now

FYI: Ed Yardeni, who has been about as right about this market since the 2009 lows as anyone, believes stocks still have some room to run.
Regards,
Ted
http://ritholtz.com/2017/10/earnings-inflation-signal-sp-500-isnt-excessive-chart-day/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+TheBigPicture+(The+Big+Picture)

Hi Guys,
Dr. Ed Yardeni and his staff always do an excellent and very comprehensive job when preparing their endless array of charts. These charts always inform and help in reducing uncertainties when making a financial decision.
I trust the charts, but I am relentlessly cautious when reviewing Yardeni's interpretation of his own research. I'll never forget Yardeni and his projections as the year 2000 was approaching. He is infamous for the overblown Yardeni Y2K negative hyperbole. Here is a Link that reviews his less than optimistic positioning on that upcoming event:
https://www.cnet.com/news/y2k-expert-yardeni-prepared-to-admit-he-was-wrong/
He couldn't have been more wrong, but he survived and continues to persist in his forecasting. When forecasting everyone has a mixed record, and Yardeni is certainly no exception. So as always, buyer beware!
Best Wshes

Here is the attachment Ted forgot.

FYI: Table Of Content:
S&P 500 & Panic Attacks
Regards,
Ted
https://www.yardeni.com/pub/sp500panicattack.pdf

Good chart pack from the Yardeni camp; hardly ever see PEG ratios referred to anymore.

"Not as expensive as 97-2000" doesn't mean its not overvalued -- just that it is not AS overvalued...
Ed Yardeni's current weekly publication deals exactly with the topic:
https://www.yardeni.com/pub/stockmktperatio.pdf
And yes, the market is NOT as expensive as 97-2000. What relevance is that, exactly? Is there some implicit expectation that the next stock market top MUST get as expensive as the dot-com peak? The market is not going to guarantee a Dot-com valuation for folks.
Trailing P/Es of 25-26 is an expensive market. That statement is simply declarative; its not meant to be predictive. Stock valuations may be at a "permanently high plateau" (like they were in the late 1920's (said tongue in cheek). In the immediate future, they may stay expensive or get more expensive (NOT a prediction!). But those possibilities don't obviate that they are expensive NOW.
I think of it this way: If I am buying (or holding) an expensive asset, what are my future returns likely to be? (Past returns, good or bad, are already "in the bag", and so, are moot.)

VF, homing in on Figure 4 of the Yardeni piece, you could get out of the market when the curve hits 50 or 60 on its way up, or later, when it hits 60 or 50 on its way down. A comparison of those points in 2000 and 2007 for the stock market versus how it subsequently performed would be in order. Then you would need a Bull Market Indicator to tell you when to get back in the market.

Didn't know Yardeni was still kicking. Unless I'm mistaken he joined Oak Associates for a while, but I could be mistaken. Not sure what he is famous far in previous life. He still seems to me milking his name well.
Anyways, not sure how to use the indicator though. I mean if I "read" it right now, we should all be out of the market right?